These days, prices are soaring sky-high, and, unfortunately, your income probably is not. This makes living frugally more important with each passing year. However, it’s hard to dial your spending back once you get used to a certain lifestyle.
That said, it’s certainly not impossible. There are some changes you can make, some easier than others, to start improving your financial situation today. Here are six tips and tricks you can use to start living more frugally and start saving.
1. Don’t Settle on Home Insurance
If you own your own home, insurance is a necessity. You never know what kind of accident might come your way, so it’s essential to be prepared. That said, you don’t need to settle on the first deal that comes your way either.
Whether you’ve had the same protection for a while or are just starting the search, get an up-to-date home insurance quote. Take your time and really shop around. You may find a significant deal by adjusting your coverage to best suit your needs or by switching providers entirely. It’s your money, so make sure you’re getting the most out of it.
2. Do It Yourself
Got a leaky faucet? How about a refrigerator light that just doesn’t want to cooperate? You could hire someone to fix these issues for you. Or, rather than pay them just to drive out and give you a pricey estimate, why not fix it yourself?
You might be intimidated by undertaking such projects on your own. But there are countless resources available online these days. Dozens of websites exist just to help you figure out how to fix and improve your home. Not to mention the holy grail of video tutorials that is YouTube. DIY has never been easier and, honestly, is an incredibly pragmatic way to save more in this economy.
3. Start Upcycling
As you start doing more projects yourself you’ll start to notice that raw materials can also be expensive. But that doesn’t mean you need to spend an arm and a leg just to build an outdoor shed. Rather than burn a hole in your wallet on new timber, upcycle old materials instead. Search for the materials you need at your local dump or find them at a second-hand store.
Old, scavenged materials are often much cheaper than their off-the-shelf counterparts. Not only is upcycling a great way to save money, but it also extends the lifetime of materials in the economic ecosystem. So what’s great for your wallet also ends up being great for the planet. The next time you go to buy something, think about whether or not you can upcycle that item or material instead.
4. Ax Your Cable Box
Cable is so 20th century. So ax your cable box (please don’t literally do this) and get with the times. These days, unless you’re a die-hard sports fan, there’s little TV you can’t just stream online. Even plenty of local news channels can be enjoyed using over-the-air TV.
One downside of cutting cable completely is that you’ll likely pay for multiple streaming services in return. And those little $14.99 charges per month can add up. Just be sure to keep track of exactly what you’re paying for and when, and bundle when possible. It’s very possible to enjoy your programs and pay less for them.
5. Embrace Your Inner Chef
Eating out has always been a tempting money pit for many to sink their teeth into. But now, in the era of food delivery services, eating out is way too easy. If you don’t already know, go through your recent credit card statements and see just how much you’ve spent on food in the last month. It’s probably more than you think.
It’s time to embrace your inner chef in the interest of frugal living. Think about some of your favorite dishes and try to recreate them in your kitchen. Even if you’re not a great cook, you can become one. Just like with DIY projects, there are seemingly endless resources to leverage online. Who knows — maybe you’ll be the one roasting the turkey next Thanksgiving.
6. Practice Delayed Gratification
Rather than any particular product, outlet, or thing, this tip is about your mindset. In today’s online world, most people expect quick results. Social media, video games, and screens generally, are all programmed to hit you with rapid bursts of dopamine. While beneficial for many large corporations, endless scrolling tempts you to buy now lest you miss out on another amazing deal.
Not only can this mental programming screw with your attention span, but it can also hemorrhage your finances. So next time you’re confronted with a tantalizing deal, wait a while before you actually pull the trigger. Follow the 48-hour rule and give it at least two days before committing to any substantial purchase. You’ll likely find that you could do without most things, and your wallet will thank you.
Mix Thoroughly For Best Results
With the cost of living continually on the rise, trying to afford your life can feel stressful and overwhelming. Thankfully there are numerous ways you can slash your expenses starting today. These are only a handful of tips and tricks to help you embrace more frugal living. Using even just one of them can reduce your monthly expenses considerably. Put them all together and you’ll really be cooking.
